BSP: Coin deposit machine collections hit P1.082B

FIEL: Bangko Sentral ng Pilipinas (BSP) coin deposit machines (CoDMs).

By Anna Leah Gonzales, Philippine News Agency

MANILA – The Bangko Sentral ng Pilipinas (BSP) said PHP1.082 billion worth of coins have been deposited through its coin deposit machines (CoDM).

In a social media post on Monday, the BSP said as of Nov. 15, the CoDMs accumulated more than 280 million pieces of coins and facilitated over 255,000 transactions.

Launched on June 20 last year, the CoDM project allows customers to conveniently deposit their legal tender coins to be credited to their GCash or Maya electronic wallet accounts, or converted into shopping vouchers.

The coin deposit machines support the BSP’s Coin Recirculation Program to put idle coins back in circulation to serve the currency needs of the country.

To date, the BSP has deployed CoDMs in partner retail establishments across the Greater Manila Area.

These are located at Robinsons Place Metro East, Pasig City; Robinsons Place Novaliches, Quezon City (QC); Robinsons Place Antipolo, Rizal; Robinsons Place Magnolia, QC; Robinsons Place Ermita, Manila; Robinsons Place Galleria, Ortigas; Festival Mall, Muntinlupa City; SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Hypermarket FTI, Taguig City; SM Southmall, Las Piñas City; SM City Sucat, Parañaque; SM City Calamba; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela; SM Mall of Asia, Pasay City; SM City North EDSA, QC; SM City Fairview, QC; SM City San Lazaro, Manila; SM City Bicutan, Parañaque; and SM City Bacoor, Cavite.

The BSP earlier said it would expand the project by installing 25 more CoDMs nationwide in 2025